BTCUSD
From the Technical Perspective:
1. From the Monthly perspective, Bitcoin was created a huge impulse to the upside without any proper retracement, we can expect a deeper retracement to at least 38.2 Fibonacci Retracement (represent as dot line in chart), once the market become bearish market.
2. From the Weekly perspective, Bitcoin already retested the neckline of the M pattern, a.k.a previous support turn resistance. We can expect a rejection inside of this weekly region (55902.67~55080.66) and continue move to the downside.
3. From the Daily perspective, Bitcoin is retesting the major supply area (56924.49~55502.46), we can expect a continuation to the downside from this region.
4. Overall direction from the Multi-Timeframe Analysis: BEARISH
From the Fundamental View:
1. Big players-CME are bearish bias on the Bitcoin.
2. In the new report, the long position and the short position are getting closed, 641 of the long position and 834 of the short position are closed, bringing the net position to -2,272 from -2,465 with total 84.10% of short exposure and 58.40% of long exposure. Overall is indicating a huge bearish market on the Bitcoin.
3. Combine with TA and FA, move to the downside of the Bitcoin is expected.
4. Overall direction from the COT Report: BEARISH
*Final direction after combining TA and FA: TA=FA=Bearish*
How to approach BITCOIN?
1. Currently lower timeframes are indicating a bullish market, multiple HH (Higher High) and HL (Higher Low) are formed. Only can looking for the short opportunity once the market turn to the bearish market.
2. Once the lower timeframe become bearish market, you may looking for the short opportunity within the daily supply zone, if your rules of the strategy are fulfilled.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on BTCUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
1. From the Monthly perspective, Bitcoin was created a huge impulse to the upside without any proper retracement, we can expect a deeper retracement to at least 38.2 Fibonacci Retracement (represent as dot line in chart), once the market become bearish market.
2. From the Weekly perspective, Bitcoin already retested the neckline of the M pattern, a.k.a previous support turn resistance. We can expect a rejection inside of this weekly region (55902.67~55080.66) and continue move to the downside.
3. From the Daily perspective, Bitcoin is retesting the major supply area (56924.49~55502.46), we can expect a continuation to the downside from this region.
4. Overall direction from the Multi-Timeframe Analysis: BEARISH
From the Fundamental View:
1. Big players-CME are bearish bias on the Bitcoin.
2. In the new report, the long position and the short position are getting closed, 641 of the long position and 834 of the short position are closed, bringing the net position to -2,272 from -2,465 with total 84.10% of short exposure and 58.40% of long exposure. Overall is indicating a huge bearish market on the Bitcoin.
3. Combine with TA and FA, move to the downside of the Bitcoin is expected.
4. Overall direction from the COT Report: BEARISH
*Final direction after combining TA and FA: TA=FA=Bearish*
How to approach BITCOIN?
1. Currently lower timeframes are indicating a bullish market, multiple HH (Higher High) and HL (Higher Low) are formed. Only can looking for the short opportunity once the market turn to the bearish market.
2. Once the lower timeframe become bearish market, you may looking for the short opportunity within the daily supply zone, if your rules of the strategy are fulfilled.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on BTCUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
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